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EU Announces 6 Billion Euro Plan to Support Western Balkan States in Pursuit of EU Membership

Main image to the post EU Announces 6 Billion Euro Plan to Support Western Balkan States in Pursuit of EU Membership

This week, the European Union announced a substantial plan, valued at 6 billion euros, to provide financial aid to Western Balkan states aiming for future membership in the EU. The funding, set for the period from 2024 to 2027, will consist of grants totaling up to 2 billion euros and loans amounting to 4 billion euros, subject to the implementation of reforms aligning the economies of the Western Balkan states with EU regulations. The EU Council highlighted the plan's objectives, stating that it will support a variety of socio-economic and fundamental reforms crucial for the advancement of the region.

Among the Western Balkan states seeking EU membership, Croatia was the most recent country to join in 2013. However, other countries such as Albania, Bosnia, Kosovo, Montenegro, North Macedonia, and Serbia are at various stages in their applications for EU membership. These countries have committed to adapting customs regulations, establishing joint border crossings akin to those of EU member nations, setting up research and development hubs for industry, and introducing free Wi-Fi in public areas. Furthermore, the EU outlined a requirement for Serbia and Kosovo to engage in fruitful dialogue with measurable progress on normalizing their relations to qualify for aid under the plan.

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May 21, 2023 | 05:09